LH(SH:600099)2022-08-26 16:00Financial Performance - The company's operating revenue for the first half of 2022 was CNY 379,259,637.84, a decrease of 8.78% compared to CNY 415,743,167.86 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was CNY 9,117,430.15, an increase of 21.87% from CNY 7,480,996.11 in the previous year[23]. - The company's operating profit was ¥7,914,884.50, a slight decrease of 3.09% from ¥8,167,373.38 in the previous year[43]. - The company achieved a net profit of ¥9,117,430.15, representing a year-on-year increase of 21.9%[37]. - The total profit for the first half of 2022 was CNY 6,699,860.67, compared to CNY 2,539,616.95 in the first half of 2021, marking an increase of 163.5%[89]. - The comprehensive income for the first half of 2022 was ¥9,117,430.15, indicating a positive performance compared to the previous period[96]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY -8,308,136.30, showing an improvement from CNY -15,987,429.80 in the same period last year[23]. - The company experienced a significant increase in cash inflow from operating activities, totaling CNY 403,548,915.43, compared to CNY 277,923,128.12 in the first half of 2021[91]. - The cash and cash equivalents at the end of the first half of 2022 were CNY 164,601,924.46, a decrease from CNY 169,222,419.84 at the end of the first half of 2021[92]. - The company reported a net increase in cash and cash equivalents of ¥10,235,187.99 for the first half of 2022, compared to an increase of ¥7,321,251.65 in the same period of 2021[94]. - The company recorded a foreign exchange gain of CNY 1,458,863.81 in the first half of 2022, compared to a gain of CNY 79,470.00 in the same period of 2021[92]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 796,636,391.18, representing a 15.84% increase from CNY 687,718,107.71 at the end of the previous year[24]. - Total current assets as of June 30, 2022, amount to 634,033,611.01 RMB, an increase from 521,794,568.90 RMB at the beginning of the period[80]. - Total liabilities increased to CNY 295,135,532.74 from CNY 195,334,679.42, reflecting a growth of 51.1%[84]. - The total owner's equity at the end of the reporting period is CNY 463,303,050.97, an increase of CNY 7,433,307.36 compared to the previous period[104]. Research and Development - The company’s R&D expenses rose by 90.99% to ¥9,724,004.02, up from ¥5,091,446.43 in the previous year[43]. - Research and development expenses for the first half of 2022 were CNY 9,724,004.02, up from CNY 5,091,446.43, indicating an increase of 91.5%[86]. - The company completed the design and testing of new models in the special vehicle and agricultural machinery segments, including the LH650ATV and high-speed transplanters[39]. - The company successfully developed and began small-scale production of five new models of agricultural machinery, receiving promotional certification[39]. Market and Competition - The all-terrain vehicle industry in China saw a production and sales volume of 202,000 units and 207,000 units respectively, a year-on-year decline of 20.6% and 18.2%[28]. - The company faces significant market competition risks, particularly in the special vehicles and agricultural machinery sectors, which are undergoing adjustments[48]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 16,627[70]. - The largest shareholder, China Fuma Machinery Group Co., Ltd., holds 92,256,920 shares, representing 42.10% of total shares, with 46,128,450 shares pledged[72]. Compliance and Governance - The financial statements were approved by the board of directors on August 25, 2022, ensuring compliance with accounting standards[107]. - The company has assessed its ability to continue as a going concern and found no significant doubts regarding its operational viability[111]. Accounting Policies - The financial statements comply with accounting standards, accurately reflecting the company's financial position and performance[120]. - The company adopts a control-based approach for the consolidation of financial statements, including all subsidiaries under its control[134]. - The company recognizes cash and cash equivalents based on specific criteria, including liquidity and risk of value change[149].